John Daniel Hertz, Sr. (April 10, 1879 - October 8, 1961) was an American businessman, raceholder and rider, and philanthropist.
Video John D. Hertz
Biography
Born Schandor Herz to a Jewish family in Sklabi? A, a village in Martin, modern Slovakia. His family emigrated to Chicago when he was five years old.
As a young man, Hertz Jr. is an amateur boxer, fighting with the name "Dan Donnelly." He won the amateur championship at the Chicago Athletic Association and finally started the box under his own name. He lives at 880 Fifth Avenue in New York City.
Maps John D. Hertz
Business career
Hertz has vast and complex business interests, especially in the transportation sector.
Hertz's first job was to sell newspapers, and eventually he became a reporter for Chicago Morning News. When the paper, then called the Chicago Record, combined with another paper, he lost his job. Although he could not drive, in 1904 he found a job selling a car on the advice of a friend. Due to the number of trades, he came up with the idea of ​​making taxi companies at low prices so that ordinary people could drive them. In 1907, he owned seven fleets of used cars he used as taxis.
He founded Yellow Cab Company in Chicago in 1915, offering a taxi service at modest prices. The typical yellow cabin became popular in his hometown and quickly franchised across the United States. He then founded the Chicago Motor Coach Company in 1917 to operate bus transportation services in Chicago and Yellow Cab Manufacturing Company in 1920 to produce taxis for sale. In 1923, he founded the Yellow Coach Manufacturing Company to produce trainers and then cars. In 1924, he acquired the rental car business, changing its name to Hertz Drive-Ur-Self Corporation.
Competition between the Yellow Cab Company and the Taxi Checker in Chicago is fierce and often violent with a number of shootings and deaths.
In 1925, Yellow Cab Company was owned by "Chicago Yellow Cab Company," which in turn is owned by Hertz, Parmelee, and several other investors. That same year he founded The Omnibus Corporation to control the Chicago Motor Coach Company and Fifth Avenue Coach Company in New York.
In 1925, Hertz held the following positions:
- Company President of Yellow Cabin
- Chairman Benzoline Motor Fuel Company
- Chairman of the Chicago Motor Coach Company
- Chairman of Fifth Avenue Coach Company
- Chairman of New York Transportation Company
- Chairman of Omnibus Corporation of America
- Chairman of the Yellow Sleeve-Valve Engine Works
- Chairman of Yellow Truck and Coach Manufacturing Company
In 1926, he sold a majority stake in Yellow Cab Manufacturing Company along with its subsidiaries, Yellow Coach Manufacturing Company and "Hertz Drive-Ur-Self," to General Motors. Hertz became president at GM at the same time.
He then sold the remaining interest in Yellow Cab Company in 1929 after the bombing of his cage, in which 11 horses were killed.
In 1933, Robert Lehman sold Hertz as a minority in Lehman Brothers investment bank in New York City and he remained a member of the firm until his death. In 1938, Hertz was ready to buy Eastern Air Lines from General Motors, but the airline's General Manager, Eddie Rickenbacker, was able to increase the financing required to acquire East before Hertz could exercise its options. In 1943, he sold the remainder of his finances in Yellow Coach Manufacturing Company to General Motors.
By using The Omnibus Corporation, he repurchased a car rental business from General Motors in 1953. Omnibus Corporation subsequently broke free of its public transportation interests, changed its name to The Hertz Corporation and hovered on the New York Stock Exchange the following year.
Personal life
In 1903, he married Francis (Fannie) Kesner from Chicago with whom he had three children: Leona Jane, John Jr., and Helen. His son was born Leonard J. Hertz and changed his name at the age of seventeen to John D. Hertz, Jr. in honor of his father; John Jr. then became an advertising executive and married short (1942-44) with movie star Myrna Loy.
Horse racing
John and Fannie Hertz are the main characters in Thoroughbred horse racing. They have a horse farm in Trout Valley near Cary, Illinois, another known as Amarillo Ranch in Woodland Hills, California. Stoner Creek Stud near Paris, Kentucky, became their most important breeding and training center. Among their top horses are the winners of Kentucky Derby 1928 and American Horse of the Year, Reigh Count, who was the master of Count Fleet, winner of the Triple Crown of Thoroughbred Racing USA in 1943. Both horses were inducted at the National Museum of Racing and Hall of Fame.
Philanthropy
During the Cold War era, Hertz founded Fannie and John Hertz Foundation with the aim of supporting military research. Edward Teller's friend urged Hertz to orient his foundation to fund education in applied sciences. The Hertz Foundation fellowship program was initially administered by scientists at the Lawrence Livermore National Laboratory associated with military nuclear weapons and ballistic missile defense programs. For his significant contribution to US security, in 1958, he received the highest civilian award given by the Department of Defense.
In 1924, Hertz approached the city of Chicago for $ 34,000 to install the city's first traffic light, on Michigan Avenue.
Death
Hertz died on October 8, 1961. His wife died two years later. They were originally buried together at Rosehill Cemetery (Chicago, Illinois). Their relics are buried at Woodlawn Cemetery in The Bronx, New York City.
References
Source of the article : Wikipedia
0 Comments